More businesses and professionals will be obliged to install POS terminals as of the new year. The relevant Joint Ministerial Decision is expected to be issued on Thursday and will concern 35 new professional sectors such as taxis, street market vendors, insurance agents and real estate brokers.
These professions come to be added to 196 professions in which POS has already been made compulsory.
The new list will include, among others: flea markets vendors, kiosks, convenience stores, taxis, insurance agents and brokers, advertising and public relations services, real estate brokers, conservatories, cultural education institutes, theaters, cinemas, concerts, singers, and others.
Fines up to 1,500 euros
The decision is also expected to provide for fines of up to 1,500 euros for those who do not comply with the tax legislation. However, fines will be imposed on professionals who have not taken action to order and be equipped with a terminal for their business until January 31, even if the process is completed in February.
Given the above, the beginning of the obligation for electronic payments with cards or the IRIS system in these sectors will practically start for all sectors after two months, at the end of February.
It is worth noting that electronic transactions have led to an increase in VAT revenues and a reduction in the circulation of “black” money. In addition, their expansion is estimated to broaden the tax base, facilitate the work of control mechanisms and limit the scope for tax evasion.
